SPY vs VERX: Correlation
Measured on weekly returns over the past three years, SPDR S&P 500 ETF Trust (SPY) and Vertex, Inc. (VERX) carry a correlation of 0.27, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and VERX?
On 3 years of weekly data the SPY/VERX correlation comes out at 0.27, weak. Recent behaviour matches the longer record: 0.30 over 1 year against 0.27 over 3. The 5-year figure is 0.34, and annualized covariance runs at 207.5 %².
Among the 4755 assets we track against SPY, VERX ranks #2586 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPY ahead by 64.0 points (+20.6% versus -43.4%). Note the risk asymmetry: VERX runs 3.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
SPY vs VERX: side by side
| SPY (SPDR S&P 500 ETF Trust) | VERX (Vertex, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | -43.4% |
| 5-year return | +82.4% | -33.8% |
| Volatility (ann.) | 14.5% | 53.5% |
| Beta vs S&P 500 | 1.00 | 0.99 |
| Max drawdown (3Y) | -18.8% | -82.1% |
| Market cap | – | $2.3B |
| P/E (trailing) | – | 715.0 |
| Dividend yield | 1.01% | 0.00% |
| Expense ratio | 0.09% | – |
| Assets under management | $795.3B | – |
| Sector / category | ETF · US Large Cap | US Listed |
SPY, State Street Investment Management's Large Blend fund, carries $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | SPY | VERX |
|---|---|---|
| 2022 | -18.2% | -8.6% |
| 2023 | +26.2% | +85.7% |
| 2024 | +24.9% | +98.0% |
| 2025 | +17.7% | -62.6% |
| 2026 | +13.7% | -28.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and VERX good diversifiers for each other?
A fair diversifier. At 0.27, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between SPY and VERX?
As of 2026-08-27, the correlation of weekly returns between SPY and VERX is 0.27 over 3 years, 0.30 over 1 year and 0.34 over 5 years.
Is VERX a good diversifier for SPY?
A fair diversifier. At 0.27, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.27 mean?
A reading of 0.27 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
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Related comparisons
Hubs: SPY correlations · VERX correlations
